Colombo, 24 September 2026 – Serendib Hotels PLC, a notable player in Sri Lanka’s hospitality sector, has successfully rectified prior non-compliances concerning the independent directorship of Mr. T. Dharmarajah. This significant development follows a unanimous shareholder resolution at the company’s 58th Annual General Meeting (AGM) held on September 23rd, 2026, which confirmed Mr. Dharmarajah’s re-election and the immediate reinstatement of his key committee chairmanships.
Addressing Prior Non-Compliance
The move by Serendib Hotels PLC comes after an initial non-compliance announcement dated August 12th, 2026. Companies listed on the Colombo Stock Exchange (CSE) are mandated to adhere to stringent corporate governance rules, particularly those pertaining to the appointment and roles of independent directors to ensure transparency and uphold shareholder interests.
Unanimous Shareholder Approval for Re-election
At the 58th Annual General Meeting on September 23rd, 2026, shareholders of Serendib Hotels PLC cast their votes unanimously to approve the re-election of Mr. T. Dharmarajah as an Independent Director. This re-election is in strict adherence to Rule 9.8.3(ix)(d) of the CSE listing rules, securing his office until the company’s next Annual General Meeting.
Reassumption of Key Committee Chairmanships
Effective from September 23rd, 2026, Mr. Dharmarajah has also reassumed his vital leadership responsibilities across several crucial committees, reinforcing the company’s governance framework:
- Chairman of the Audit Committee
- Chairman of the Related Party Transactions Review Committee
- Chairman of the Remuneration Committee
- Chairman of the Nominations & Governance Committee
Commitment to Strong Corporate Governance
The swift and decisive action taken by Serendib Hotels PLC underscores its unwavering commitment to robust corporate governance and full compliance with the regulatory frameworks established by the Colombo Stock Exchange. The unanimous shareholder approval reflects strong confidence in Mr. Dharmarajah’s experience and capabilities, as well as the company’s diligent efforts to maintain the highest standards of transparency and accountability. This resolution effectively brings Serendib Hotels PLC back into full compliance, thereby strengthening its overall governance structure and ensuring adherence to best practices.
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